Loop Capital Increases Palantir Technologies (NASDAQ:PLTR) Price Target to $130.00

Palantir Technologies (NASDAQ:PLTR) had its price objective upped by investment analysts at Loop Capital from $125.00 to $130.00 in a report released on Tuesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s target price indicates a potential upside of 17.72% from the company’s current price.

Several other research firms have also recently weighed in on PLTR. Morgan Stanley increased their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Mizuho lifted their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a research report on Tuesday. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. UBS Group boosted their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.70.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $110.43 on Tuesday. Palantir Technologies has a 52-week low of $20.50 and a 52-week high of $125.41. The business’s fifty day moving average is $92.85 and its 200 day moving average is $80.95. The firm has a market cap of $259.00 billion, a price-to-earnings ratio of 581.24, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. Equities analysts predict that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,978,181 shares of company stock worth $252,115,667 in the last three months. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. Mechanics Financial Corp purchased a new position in Palantir Technologies during the 1st quarter valued at $25,000. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $27,000. First PREMIER Bank purchased a new position in shares of Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC raised its stake in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its stake in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.